Outsourcing Industry Generated 3.6% of Bulgaria's GDP in 2016
In 2016 the outsourcing industry generated 1.5 billion euro, 3.6% of Bulgaria's GDP. Expectations are that by 2020 revenues will reach 2.5 billion euro, 4.2% of GDP, representatives of the Sofia Municipal Privatization and Investment Agency (SMPIA) and the Bulgarian Outsourcing Association (BOA) told a BTA-hosted news conference Tuesday.
The industry was one of the largest taxpayers in Bulgaria in 2016 and accounted for 1.5% of all taxes paid in 2016. Companies spent an average of 0.9% of their operating revenues on taxes, said Plamen Tsekov, member of BOA's Board of Directors. The outsourcing industry generated 6.5% of total payroll expenses and accounted for 5% of all social security contributions paid in 2016. These figures are expected to double in the next four years.
BTA